Loan Calculator
Plan your loan with confidence. Calculate your monthly payments, total interest costs, and view your complete amortization schedule.
About Our Loan Calculator
Features & Benefits
- ✓Calculate payments for any loan type: mortgage, auto, personal, or business
- ✓View complete amortization schedules with payment breakdowns
- ✓See how extra payments can help you pay off your loan faster
- ✓Compare different loan terms and rates to find the best option
- Analyze total interest costs and identify potential savings
How It Works
- Enter your loan amount, interest rate, and desired term
- Customize with additional options like extra payments or fees
- Select your loan type (fixed, variable, interest-only, or balloon)
- Click "Calculate" to see your complete loan payment details
- Analyze the results and adjust parameters to optimize your loan
Our calculator uses standard financial formulas to provide accurate results for your loan scenarios.
Understanding Loan Terms
Principal
The original amount borrowed, excluding interest and fees.
Interest Rate
The percentage charged by the lender for borrowing the money, usually expressed as an annual percentage rate (APR).
Loan Term
The time period over which you'll repay the loan, typically expressed in months or years.
Amortization
The process of paying off a loan through regular payments covering both principal and interest.
Balloon Payment
A large, one-time payment due at the end of the loan term, after a series of smaller payments.
Compounding
How often interest is calculated on your loan balance, which affects the total interest paid over time.